Ngambi Forex Shutsdown Money Remittance Arm

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BY BANKERS REPORTER

Ngambi Forex Bureau has notified the Bank of Uganda (BOU) that it will shutdown its money remittance, joining a list of other forex bureaus that have taken the same route.

The firm said it will however continue to carry on with forex bureau business.

“Pursuant to regulation 19 (3) of the Foreign Exchange (Forex Bureaus and Money Remittance) Regulations, 2006 the Bank of Uganda hereby informs the public that Ngambi Forex Bureau Limited voluntarily ceased to carry on money remittance business with effect from July 22. 2021.

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“Customers with outstanding claims for monies given to Ngambi Forex Bureau Limited for remittance purposes should submit the claims, with evidence, to the Office of the Director Non-Bank Financial Institutions Department at the Bank of Uganda by September 22, 2021,” Bank of Uganda said in a notice.


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